Vietnam, US businesses seek avenues for further cooperation

The annual event co-organized by the American Chamber of Commerce (Amcham) in Hanoi and the Vietnam Chamber of Commerce and Industry (VCCI), aims to strengthen connectivity among the business communities of both nations. 

In his remarks, the Deputy PM assured the Vietnamese government’s readiness to continue to create the optimal conditions for US investors to carry out long-term and sustainable investment and business activities in the Southeast Asian nation.

He expressed his wish that increasing numbers of American companies will invest in diverse fields of Vietnam’s demands including renewable energy, clean and sustainable energy, oil and gas, infrastructure, smart city development, finance-banking, education- training, tourism, hi-tech agriculture and industry.

Mr Dung pointed out that despite their achievements, trade cooperation between the two nations in recent times is still below their full potential and demand for trade and investment.

He asked the two trade agencies to continue to promote creativity and innovation while providing the best possible conditions for Vietnamese and US businesses to enhance business and investment links.

Associations will inform the government of any barriers to progress encountered by American businesses, Dung said, noting that the crux of the matter is to promote the sustainable development of each nation.

US business representatives said that while Vietnam has advantageous commodities for exports to the US such as seafood, cashew nuts, garments and textiles and footwear, the US has provided Vietnam with hi-tech products. Many contracts and agreements for the purchase of aircraft and aircraft engines worth billions of dollars have been being under negotiation and much equipment is imported from the US to serve projects in Vietnam.

Participants also discussed effective methods of cooperation between the two countries’ businesses, practical approaches to boosting trade and investment promotion and devising solutions to overcome limits to development.